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A truck driver and equipment shortage is squeezing freight shipments across the US in May, with steel mills and distributors struggling to find trucks. High river water has tightened barge supply and pushed up spot rates, and Capesize ocean rates have risen to as much as $33,000 per day.
Tight barge and truck capacity raises the cost of moving feed ingredients such as corn, soybean meal and DDGS on inland waterways, which can widen basis and freight spreads for feed buyers.
steelmarketupdate.comSandy WilliamsMay 6, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
